How to Write an Effective Marketing Plan for your Business

Maria Asuelimen

Managing Partner of AMA Consulting

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A marketing plan is the blue print that outlines how your company will capture its share of your target market. The process of formulating a marketing plan can be broken down into 3 phases: Analysis of Company, Analysis of Business Environment, and Goal Setting.
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Analysis of Company: SWOT Analysis
S: Strengths are internal factors that add value to your company. For example, superior financial position, patents, innovation, strong brand.
W: Weaknesses are internal factors, necessary for optimum performance that you lack. For example: Disadvantages compared to competitors, weak leadership, and poor technology.
O: Opportunities are external events that your company can capitalize on. For example, loosening of regulation, demographic shifts, removal of international trade barriers.
T: Threats are events or forces outside your control that may negatively affect your business. For example, natural disaster, market entry of a new competitor, social, economic trends.

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